More Czech firms moving to tax havens

07-08-2012

Close to 300 Czech companies moved their headquarters to tax havens in the first half of this year, an increase of 2.5 percent year on year. Analysts say that if the set pace continues in the second half of 2012 it will be the biggest outflow of capital in the last three years. According to data provided by the Czech Capital Information Agency 366,500 companies registered in the Czech Republic are controlled from tax havens. Among the most attractive destinations are the Netherlands, Cyprus and Luxembourg.